ECONOMIC ANALYSIS
No. of credits=04
Course Objective:
The course provides some basic inputs pertaining to micro and macro economics.
1) Introduction-What is Economics-Micro Economics and Macro Economics, Importance of Economic Analysis, Scope of Economic Analysis. 06 hrs
2) Demand Analysis- Utility analysis of demand, marginal utility, law of Diminishing marginal utility, relevance of utility analysis. 08 hrs
3) Demand Analysis – law of demand factors influencing demand, exceptions to law of demand, Indifference curve analysis. 06 hrs
4) Cost concepts and cost output relationship. 06 hrs
5) Production Analysis – Law of variable proportions, Law of return to scale. 06 hrs
6) Market structure – Perfect competition monopoly monopolistic competition oligopoly 08 hrs
7) National income concept – GNP, GDP, NNP, NDP 06 hrs
8) Monetary Policy & Fiscal Policy 04 hrs
9) Inflation – causes for Inflation, measures to control Inflation. 04 hrs
10) Business cycle – Phases of business cycle, Measures to reduce the impact of business cycle. 06 hrs
Suggested Readings:
1) D.M. Mithani – Managerial Economics, Himalaya Publishing House, New Delhi, 2000.
2) D.M. Mithani & VRS Murthy- Fundamentals of Business Economics, Himalaya Publishing House, New Delhi, 1988.
3) Mankar & Pallai – Business and Managerial Economics, Himalaya Publishing House, New Delhi, 1985.